11-50-346
Section 11-50-346 Execution of trust agreement as security for payment of revenue bonds authorized;
provisions in trust agreements or resolutions for issuance of bonds generally. In the discretion
of the board, any revenue bonds issued under the provisions of this article may be secured
by a trust agreement by and between the board and a corporate trustee, which may be any trust
company or bank having the powers of a trust company within or without the state. Such trust
agreement or resolution providing for the issuance of such bonds may pledge or assign the
revenues to be received, but shall not convey or mortgage any water system or sewer system
or any part thereof. Such trust agreement or resolution providing for the issuance of such
bonds may contain such provisions for protecting and enforcing the rights and remedies of
the bondholders as may be reasonable and proper and not in violation of law, including covenants
setting forth the duties of the board in relation to the...
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16-13-31
Section 16-13-31 Record of receipts and disbursements; apportionment of countywide taxes for
Foundation Program. (a) The tax collector/revenue commissioner of each county must keep a
record of all receipts and disbursements of school funds of his/her county to the local boards
of education of the county. (b) The tax collector/revenue commissioner of each county shall
apportion county-wide taxes collected for the purposes of participating in the Foundation
Program to each local board of education in the county on the basis of the total calculated
costs of the Foundation Program for those local boards of education within the county. The
total calculated costs of the Foundation Program for each local board of education shall be
the sum of state funds received from the Foundation Program and the amount of local effort
required pursuant to paragraph a. of subdivision (3) of subsection (b) of Section 16-13-231.
(c) The apportionment of countywide taxes collected for the purposes of...
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19-5-11
Section 19-5-11 Applicability of chapter. This chapter applies to any trust or estate that
may be subject to Chapter 13 of the Internal Revenue Code. (Acts 1988, No. 88-340, p. 516,
§11.)...
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26-1A-216
Section 26-1A-216 Taxes. Unless the power of attorney otherwise provides, language in a power
of attorney granting general authority with respect to taxes authorizes the agent to: (1)
prepare, sign, and file federal, state, local, and foreign income, gift, payroll, property,
Federal Insurance Contributions Act, and other tax returns, claims for refunds, requests for
extension of time, petitions regarding tax matters, and any other tax-related documents, including
receipts, offers, waivers, consents, including consents and agreements under Internal Revenue
Code Section 2032A, 26 U.S.C. Section 2032A, as amended, closing agreements, and any power
of attorney required by the Internal Revenue Service or other taxing authority with respect
to a tax year upon which the statute of limitations has not run and the following 25 tax years;
(2) pay taxes due, collect refunds, post bonds, receive confidential information, and contest
deficiencies determined by the Internal Revenue Service or other...
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32-6-411
Section 32-6-411 Establishment of Forest Stewardship Education Fund; distribution of proceeds.
(a) There is hereby established a separate special revenue trust fund in the State Treasury
to be known as the "Forest Stewardship Education Fund," whose purpose is to promote
the professional management of trees and related resources and to educate the general public
regarding the contribution that trees and related resources make to the economy and environmental
quality of this state. (b) Proceeds from the additional revenues generated by the fifty dollars
($50) for the "Alabama Forests" tags or plates, less administrative costs, shall
be submitted monthly by the Alabama state Comptroller to the Forest Stewardship Education
Fund. Receipts collected under the provisions of this division are to be deposited in this
fund and used only to carry out the provisions of this division. Such receipts shall be disbursed
only by warrant of the state Comptroller upon the State Treasurer, upon itemized...
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40-9F-34
Section 40-9F-34 Recapture of tax credits; assessment. (a) Recapture of any of the credit shall
apply against the taxpayer who utilizes the credit, and any required adjustments to basis
due to recapture, shall be governed by Section 50 of the Internal Revenue Code. (b) In the
taxable year the certified rehabilitation is placed in service for any structure for which
a tax credit has been issued, the commission shall provide notice of the certified rehabilitation
and a copy of the appraisal provided by the owner to the taxing authority responsible for
the assessment of ad valorem taxes. Upon notification, the taxing authority responsible for
the assessment of ad valorem taxes shall complete a new assessment for the structure to be
used in the assessment of ad valorem taxes for the tax year in which the certified rehabilitation
was placed in service. (Act 2017-380, §5.)...
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40-9F-5
Section 40-9F-5 Recapture of credits; assessment. (a) Recapture of any of the credit shall
apply against the taxpayer who utilizes the credit, and any required adjustments to basis
due to recapture, shall be governed by Section 50 of the Internal Revenue Code. (b) In the
taxable year the certified rehabilitation is placed in service for any structure for which
a tax credit has been issued, the commission shall provide notice of the certified rehabilitation
and a copy of the appraisal provided by the owner to the taxing authority responsible for
the assessment of ad valorem taxes. Upon notification, the taxing authority responsible for
the assessment of ad valorem taxes shall complete a new assessment for the structure to be
used in the assessment of ad valorem taxes for the tax year in which the certified rehabilitation
was placed in service. (Act 2013-241, p. 579, §5; Act 2014-452, p. 1679, §1.)...
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10A-10-1.10
Section 10A-10-1.10 Provisions on investments and use. (a) A real estate investment trust shall
hold, either directly or through other entities, assets of such character, in such percentages,
and for such uses as permitted by Sections 856 to 860, inclusive, of the Internal Revenue
Code, as amended from time to time. (b) Except as provided in subsection (a), the trustees
shall have the powers as to the investment of the trust estate as may be set out in the declaration
of trust without regard to the type of investments to which trustees generally are restricted.
(Acts 1995, No. 95-628, p. 1317, §10; §10-13-10; amended and renumbered by Act 2009-513,
p. 967, §308.)...
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11-3-4
Section 11-3-4 Reimbursement of travel expenses of commissioners. Each member of the county
commission, including the judge of probate when he or she serves as chair of the county commission
shall be entitled to reimbursement of all actual travel expenses, other than mileage, and
mileage at the mileage rate allowed by the Internal Revenue Code for income tax deduction
while traveling in his or her personal vehicle within or outside of the county, in performing
the duties of the office of county commissioner. Reimbursement shall be paid on warrants drawn
on the county treasury on the order of the county commission provided he or she presents proper
documentation of such expenses under procedures adopted by the county commission and in compliance
with Article 1, commending with Section 36-7-1, of Chapter 7 of Title 36. This section shall
not operate to repeal or amend any local law affecting any county with respect to the matters
contained in this section. In the discretion of the county...
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11-81-183
Section 11-81-183 Designation of depository; disposition and disbursement of gross revenue
account and special funds by depository. The governing body of the borrower shall designate
as depository for the "gross revenue account" and each of the special funds provided
for in Section 11-81-181 a bank or trust company duly qualified and doing business within
the State of Alabama. The moneys in said account and in each of the said funds shall be received
and held by the respective depositories therefor in separate and special accounts as trust
funds for the benefit of the borrower and the holders of the bonds and coupons as their respective
interests may appear and shall be applied only for the respective purposes specified in the
authorizing proceedings or any trust indenture provided for in the authorizing proceedings;
provided, that the authorizing proceedings or such trust indenture may provide that any depository
for said account or for the said replacement and extension fund shall...
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